FX News

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There was more good news for the US economy yesterday when, as expected, the GDP growth rate for the third quarter was revised up. The US economy expanded at an annualised rate of 2.7% in Q3 following an initial estimate of 2.0%.

The euro eased against the dollar on Thursday, but its losses were limited after comments from U.S. policymakers rekindled hopes for a deal to avoid a sharp fiscal tightening that could hurt the global economy. For the moment, the U.S. fiscal cliff seems to be a dominant theme in the market.

The EUR is trading under pressure against its major peers this morning ahead to today’s session. The highlight of the day comes in the form of the latest German CPI inflation data for this month. Analysts are anticipating a drop in CPI data to 1.9% from October’s 2.0% reading.

This morning saw UK Q3 data add support to GBP in that it confirmed we are out of the double-dip recession. Furthermore investment and services data looked 'surprisingly' positive. Greece’s institutional lenders reached a deal early Tuesday in Brussels that is expected to pave the way for the country to receive...

The era of austerity could last until 2018 as George Osborne may be forced to announce billions of pounds of further spending cuts in next week's budget statement as the weak economy makes it increasingly difficult for him to meet his fiscal rules, a leading economic think tank said on Monday.

Greece may soon breathe a sigh of relief, as a deal with the Troika looks closer, according to Greek-based paper citing Finance Minister Yannis Stournaras who suggests only 10 billion euros stand in the way of a deal.

The euro zone economy is on course for its weakest quarter since the dark days of early 2009, according to business surveys that showed companies toiling against shrinking order books in November. Service sector firms like banks and hotels that comprise the bulk of the economy fared particularly badly this month, and laid off staff...

The Euro traded sharply lower as European finance leaders failed to reach a decision on Greece during today’s meeting. The chairman of the Eurogroup Jean-Claude Juncker said Greece has met prior actions satisfactorily and ‘credible’ ideas to bring down the debt levels were identified.

The second largest eurozone economy took a setback yesterday as it lost its top credit rating. Moody’s Investor Services cut France’s credit rating from AAA to AA1 and maintained the negative outlook, citing an uncertain fiscal position and a deteriorating economy.

Eurozone governments and the International Monetary Fund (IMF) are making headway in settling a row over how to make Greece's debt manageable, Eurogroup President Jean-Claude Juncker said on Saturday. “We are working intensively on a compromise with the IMF on Greece and are making progress," he said, adding it remained...

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